IPTs out for Saudi National Bank's USD T2 notes
The Reg S 10-year non-call 5 notes are being issued under the bank's $10 billion Euro medium Term Note programme.
The issuer is SNB Funding Ltd. with Saudi National Bank the guarantor.
Books, which opened today, are over $2 billion (excluding JLM interest).
(Writing by Brinda Darasha; editing by Seban Scaria)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
3 hours ago
- Arabian Business
Uber launches ‘Women Drivers' feature in Saudi Arabia
Uber has announced the upcoming launch of its new 'Women Drivers' product in Saudi Arabia, allowing women riders to be matched exclusively with women drivers via the app. The new feature, which will roll out gradually in the coming weeks, marks a major step forward in enhancing mobility and economic inclusion for Saudi women. The launch coincides with the seven-year anniversary of the Kingdom's historic decision to lift the driving ban on women, and is positioned as part of Uber's broader mission to empower women through innovation, local partnerships, and economic opportunity. Uber Women Drivers in Saudi Arabia The product is also designed for ease of use to ensure women feel comfortable and empowered. It will be available gradually for riders in the coming weeks. Here's how the product works: On-demand: The Women Drivers product allows women riders to be matched with Women Drivers. The product functions just like UberX and is selectable from the product mini-list with similar prices to Uber X Reserve: For women riders looking for added structure and planning, they can reserve a ride with a women driver up to 30 minutes in advance through the Uber Reserve feature Youssef Abouseif, KSA GM at Uber, said: 'Women across Saudi Arabia have shown how mobility can open the door to new possibilities. At Uber, we see that future as electric, shared, and autonomous – but also inclusive. 'The launch of the 'Women Drivers' product reflects our commitment to empowering women and supporting their mobility and economic independence. 'We're continuing to support women who choose to drive via the Uber app – giving them more choice, more opportunity, and a stronger sense of community. 'We're also thrilled to witness this dynamic change unfold in Saudi Arabia, and we firmly believe initiatives like these play a pivotal role in Saudi Vision 2030.' Uber is partnering with Alnahda Society, a leading non-profit organisation established in 1962 with a mission to empower women both economically and socially. The collaboration aims to support women in mobility through capacity-building initiatives, including financial literacy programs, by equipping women with essential skills. The initiative paves the way for economic independence and opens up opportunities such as driving via the Uber app. This effort builds on Uber's previous collaboration with Alnahda through the Masaruky initiative, which supported thousands of women in joining the workforce by helping them learn to drive and obtain a driver's licence. Additionally, Uber will host its first GigSister program in Saudi Arabia, creating a dedicated space for women drivers to connect, share experiences, and foster a supportive local community. These initiatives highlight how Uber is going beyond mobility to actively invest in the development and success of women across the Kingdom. Over the years, Uber has introduced a series of programs in Saudi Arabia, from the Wusool initiative, which supported more than 20m subsidised rides for women, to Women Rider Preference, which allows women drivers to choose if they want to exclusively pick-up women riders. Each of these initiatives has been carefully curated to advance women's participation in the workforce and align with the Kingdom's broader socio-economic goals.
Arabian Business
3 hours ago
- Arabian Business
Etihad Airways carries 1.8m passengers in June as 2025 traffic tops 10m
Etihad Airways reported strong growth in June 2025, flying 1.8m passengers, a 16 per cent year-on-year increase, as it continues its strategic network expansion and strengthens its position as the fastest-growing airline in the Middle East. The airline's passenger load factor reached 88 per cent, up from 86 per cent in June 2024, highlighting Etihad's success in managing capacity while maintaining robust demand across its routes. The airline's operating fleet now comprises 101 aircraft, supporting its expanding network and ongoing service enhancements. Etihad passenger growth During the first half of 2025, Etihad welcomed 10.2m travellers on board, reflecting a 17 percent rise from the same period in 2024. The average passenger load factor for the year to date stands at an impressive 87 percent. Antonoaldo Neves, Chief Executive Officer of Etihad Airways, said: 'We are pleased to see continued momentum in our growth, with passenger numbers in June increasing by 17 percent year-on-year in the first half of the year, maintaining our position as the fastest-growing airline in the Middle East. 'Our year-to-date figures show that more than 10m guests have flown with us in 2025, and our rolling 12-month total has almost reached 20m as our customers continue to place their trust in our service. 'Our route expansion continued in June as we began operating to Prague and Warsaw for the first time and resumed five seasonal routes to summer hotspots Nice Malaga Mykonos Santorini Antalya'
Arabian Business
3 hours ago
- Arabian Business
Saudi real estate: Thriving non-oil GDP boosts property market in multiple sectors in Q2 2025
Saudi Arabia's robust economic growth, driven by a 4.9 per cent expansion in non-oil GDP, is fuelling strong performance across the real estate market, according to CBRE Middle East's Q2 2025 Real Estate Market Review. Real GDP in Q1 2025 expanded by a robust 3.4 per cent, though the full-year forecast has been adjusted to approximately 3.5 per cent due to a more conservative outlook for the oil sector. The Kingdom remains committed to its Vision 2030 initiatives and fostering sustainable economic growth. The second quarter of 2025 witnessed a dynamic and evolving real estate landscape in Saudi Arabia, driven by a combination of policy adjustments and strategic initiatives. The implementation of the Real Estate Transaction Tax (RETT) and strategic realignments within the construction sector shaped the market dynamics. Moreover, the Kingdom's logistical prowess improved, with a rise in the Agility Emerging Markets Logistics Index. The Hail region attracted substantial investment, demonstrating its strategic importance, while several major mixed-use developments, such as OSUS EYE in Riyadh, the Pulse Wadi District, and the ongoing advancement of the Dar Al Hijra project in Madinah, underscored the Kingdom's commitment to economic diversification and urban growth. Residential real estate in Saudi Arabia Looking at the residential real estate market in Saudi Arabia significant growth and investment were witnessed in Q2 2025, particularly in Riyadh. Driven by strong demand, transaction volumes were substantial, with land sales leading the way. Government support and initiatives are actively promoting development and attracting both local and international investors. New project launches, such as Azure's Lamara project and ROSHN Group's ALDANAH community, alongside new investment funds, are fuelling the sector's expansion and commitment to addressing the Kingdom's housing goals. Office real estate in Saudi Arabia The office market in Saudi Arabia thrived in Q2 2025, characterised by key trends. The demand for office space, especially Grade A properties in Riyadh, remains high, leading to rising rental rates and exceptionally high occupancy levels. The government's Regional Headquarters (RHQ) Program continues to drive demand, attracting international companies. The rise in the flex sector and the preference for smaller, efficient office spaces are also notable. Although a limited new supply in 2025 is expected to exacerbate the market dynamics, the outlook is positive, with increased supply anticipated in the coming years, along with strong performance in Jeddah. Retail real estate in Saudi Arabia Q2 2025 saw a dynamic retail sector in Saudi Arabia, marked by the rise of 'Retailtainment' and the expansion of entertainment hubs. The increasing integration of entertainment into malls and the substantial investments by Saudi Entertainment Ventures (SEVEN) are key drivers of this transformation. Despite a slight dip in sales during the Eid holiday, the sector is navigating challenges like oversupply and e-commerce through innovative projects and strategic adaptations. Stable rents and occupancy rates in super-regional malls and the addition of new developments are adding to the evolving retail landscape. Hospitality real estate in Saudi Arabia The hospitality sector in Saudi Arabia experienced remarkable growth in the second quarter of the year, solidifying its position as a leading global travel destination. Driven by a combination of leisure, cultural, and religious tourism, the sector saw a 48 per cent increase in international visitors compared to Q2 2024. The upcoming mega-events, including major sporting tournaments and Expo 2030, are poised to generate substantial demand for accommodation. The pipeline of new hotel projects is also expanding, particularly in Riyadh, and new brand debuts, such as IHG's EVEN Hotel, are adding to the diversity and appeal of the sector, creating a strong outlook for sustained growth. Industrial real estate in Saudi Arabia Significant developments in Saudi Arabia's industrial and logistics sector supported the country's economic diversification efforts in Q2 2025. Robust demand for warehousing continues, despite challenges in finding immediately available, high-quality facilities. A major investment in a $7bn cross-country rail corridor will enhance logistics capabilities. Average warehouse rents are increasing, reflecting strong demand. The launch of the Advanced Manufacturing and Production Centre and collaborations like the one between Saudi Aramco Technologies and BYD are driving industrial transformation and innovation. Matthew Green, Head of Research MENA, said: 'This groundbreaking regulation marks a pivotal moment for Saudi Arabia's real estate market. By welcoming foreign investment, we anticipate a transformative shift, driving substantial growth in inbound capital over the next five years. 'This will not only support the ambitious FDI targets but also stimulate private sector development, further diversify the non-oil economy, and generate wealth for landowners. 'Furthermore, it will foster long-term population growth and economic stability by enabling foreign residents to participate in homeownership, a significant social milestone'.
